Villa Rosa open

NEW -> Contingent Buyer Assistance Program
<em>>>Can Lennar just up and ditch out on the remaining phases?</em>





As I understand it, TIC owns the land up until it releases each specific lot to the builder to offer for a new phase. That way, the builder only has land carrying costs for a few lots at a time. So it's possible that Lennar and TIC came to an understanding on the remaining lots that were planned for Villa Rosa.





Andalucia is essentially Campanile. Have you seen those model homes that are built but not open near Sand Canyon and Trabuco (but inside Woodbury)? That is Andalucia. Those were supposed to open Fall 2008, but have been put on hold until who knows when.
 
the sales office today told me that it is the irvine company asked them to build out those lots at the entrance to that area, so it will look better and more complete. They claim they will continue to build out the other lots after the entrance is done.



kind of make sense to me...
 
Reason: They take a little longer at StarBucks to get the coffee out but the quality is better now. We will see how long this lasts.



I did take a sneak peak around the Andalucia models since they left the gate wide open. They look like more traditional homes with separate driveways and backyards, albeit small yards. This would be a plus for the Woodbury area since most of the new product are townhomes or have shared driveways unless you are willing to pay $1Mil+. Hopefully when they start selling pricing will be lower than Campanile--maybe low to mid $800K?
 
I agree that Starbucks has had an improvement in quality since the "shut-down" last week. I am disappointed that they are taking over Deitricks... which was much better and on par with Peet's quality.



Well, not to jinx myself, but I'm in escrow on the condo... and ever closer to seriously considering buying... although I'll probably rent in the short term...just to see what really happens at Villa Rosa.



Incidently, I received a magazine style "advertisment" from TIC that was focusing on Portola Springs and Woodbury...and why it is a great time to buy... and what a great school Woodbury elementry is...pretty well put together... but not a cautionary comment to be found... just interviews with happy home buyers and short stories on the wonders of Irvine...wonder if anyone on this blog worked on it!
 
Has anyone heard about what date the next phase of Villa Rosa is being released? Or pricing info? I just sold my condo (hooray!) and I may be in the market... of course, I'll be renting in the meantime... yes, I know that I can call the sales office, but I ask many of my questions on this blog to see what other people have heard... I'm not about to blindly trust Lennar's representatives on such a large purchase...
 
<p>Hey GUII, just wanted to make sure you realized there were Rosemoor models on the market today. They are much like Villa Rosa. Also built by Lennar. </p>

<p>This one on Logan is very similar to the VR plan 2:</p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1528100">http://www.redfin.com/stingray/do/printable-listing?listing-id=1528100</a></p>
 
Thanks for the listing IPO - I did notice that listing... but here is the deal. That Roosmore model is (1) not new (2) about 110K more than the new Villa Rosa model 2, and (3) about 200 sq feet smaller!... although I do like the fact that it is in Woodbury. Does landscaping really make it worth 100K more? Not to me. If I wasn't planning to landscape, what would I do on the weekend if I bought a new house? And then you have the "mystery" factor - will Lennar wheel and deal, or simply lower prices in the next phase? Conversly, will the Rossmore become a "short sale" ? All things being equal - it seems that you start out way ahead if you buy new... at least for now.
 
<p>GUII - 1st, that's a list price, so you while you can deal on price with the re-sale, you can't with Lennar. I would suspect one of these Rosemoors could be had for right around $1M before too long if not today... If you had a realtor kick you back 1-2%, you could very likely get one for $1M. </p>

<p>New plan 2 VR at $1.08M does not include flooring, so tack on another $25-30K on for that. Add $25-30K for basic landscaping + window treatments and a new VR plan 2 is going to run you close to $1.150M right? </p>

<p>So if a Rosemoor like this could be obtained for close to $1M, a VR plan 2 for $150K more would mean someone was purchasing that extra 200sf for $750/sf. Seems a little pricey for 200sf but I'm a value oriented kinda guy. I wouldn't buy either one personally, so my opinion isn't as invested...</p>
 
30K for landscaping? Wow. Time for me to run over to Loews and see what the hell is going on! Maybe its time for me to switch occupations. As for floors, I'd never get them from a builder... the flooring they offer isn't even real wood. IMHO, a real wood floor is a floor where the guy lays a sub-floor, nails in the oak, sands it, stains it, and then seals it. I already got a quote for around 19K for the entire downstairs just to see what costs I might be looking at. As for shutters, etc, I figured on around 10K. 1.08 + 19K + 10K = 1,110,000, or 78K less than the Roosmore... but then, 78K is only a 6-7% reduction on the Rossmore, not out of the question for the seller I suppose...I think psychologically however, the re-sale house would have to sell at a discount to the new home... 1m on the Roosmore? Well, that'd be more of an 15-18% reduction... might be a while before a seller would eat that... it is a nice house however.
 
<p>My VR plan 2 friends spent $35K on their landscaping. Pretty basic stuff, although they did do flagstone walkway in the front, but not even a patio cover yet. I spent almost $10K on mine for my teeny tiny condo backyard, which was simple colored concrete, sprinkler system, sod, patio cover, and plantings... Doing it yourself would definitely save some big bucks. </p>

<p>Don't forget that if you are keeping carpet upstairs, they'll nail you for $5-10K to upgrade from the crap builder standard stuff. I think your shutters price might be a little low but in the ballpark. There are over 30 windows in a VR plan 2, although you don't need to shutter every one of them.</p>

<p>I think those Logan places will have to accept $1M before too long. That's what they paid in 2005 and the market has mostly passed by 2005 prices... You could probably get a nice below market financing deal via Lennar though, at least while they are suffering. </p>
 
Good luck landscaping yourself. It is expensive, but It's alot easier for these guys bc they do it for a living. It could be a nightmare for you unless you have some experience. I'm paying 30k for some basic stuff. If you're paying over a mill for a house, do yourself a favor and get it done professionally.





You have the rest of the stuff about right. Shutters will be around 10k. I was quoted 10k for 38 windows. Flooring from someone else will save you tons of money. I paid 40k for downstairs hardwood from lennar, and 8k to upgrade the upstairs carpet, so you'll be saving a bundle.





I also think you should wait it out and try to buy new. Hope they have some unsold homes and they will offer incentives. Good luck
 
40K for floors? Wow. As for the upstairs... we would expect to let the stock carpet just go to crap while the kids get beyond the "throw food" and diapers phase... and then replace and upgrade... I suppose I will wait and see what April 5 brings. Thanks Stuff it.
 
<p>Builder flooring is a rip. Normally you can take the builders price and knock it back by 50-60% to get outside market. If RT paid $40K, your $19K sounds reasonable comparatively but expensive overall. Product cost is probably $5/sf tops so around $7500 for materials to floor 1500sf of downstairs. That's 12K in labor cost or around $200-300 per hour. Yikes!</p>
 
I agree with flooring ipo. I only went with lennar because i had 75K to burn.





My parents recently purchased a new home and they were able to use all the incentive money on the price, so they will be going with outside flooring. They received a quote of around 10k for flooring 1500 sqft downstairs, so I do think the 19K is a bit high as well.
 
Guys, guys... I'm not talking about engineered wood plank and their aluminum oxide coatings... I'm talking about the real deal, which involves about 3X the labor...and doing the entire downstairs... but don't get me wrong... 19K isn't chump change... and I still don't have a house to put it in . I haven't met a builder that even offers such a wood floor as an option through their design centers...
 
Eva - Oh, it gets worse. I got in a conversation with Lennar about upgrades... they require that you either (1) pay cash or (2) roll the price into your home loan. What a bunch of bologna. I would have charged it... and used all of that great credit card rebate info posted on this blog about 1 month ago. I got a song and dance about how it would save me money to roll it into the cost of the loan... obviously, I am not the typical customer... I've been looking at every aspect of this for over one year...and I am not intending to sell in the next ten years... as far as I am concerned, when I do this, "this is it."
 
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